Wall Street whipsaws on conflicting reports on Iran deal

Wall Street whipsaws on conflicting reports on Iran deal

(Reuters) - U.S. stocks were whipsawed on Tuesday on conflicting reports on whether President Donald Trump will withdraw the United States from the Iran nuclear deal.

The stocks pared losses to trade flat after CNN reported Trump was expected to allow sanctions to go forward on Iran, but would not withdraw from the deal.

But those moves evaporated after the New York Times reported that Trump told French President Emmanuel Macron the United States was going to pull out of the deal.

"We're getting conflicting reports about the Iran deal. CNN reported that (Trump) would not withdraw but the New York Times is reporting that he will withdraw," said Michael Antonelli, managing director, institutional sales trading at Robert W. Baird in Milwaukee.

"The market will struggle until we get clarity on this."

At 11:51 a.m. ET, the Dow Jones Industrial Average was down 25.41 points, or 0.08 percent, at 24338.76. The S&P 500 lost 3.99 points, or 0.15 percent, to 2,668.64 and the Nasdaq Composite dropped 11.70 points, or 0.16 percent, to 7,253.52.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Anil D'Silva)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: May 09, 2018 00:05 AM

Also Watch

Social Media Star: India’s top lifestyle bloggers share their trade secrets on the latest episode
  • Friday, July 27, 2018 First Day First Showsha — Reviewing Tom Cruise's Mission: Impossible - Fallout in 10 questions
  • Friday, August 10, 2018 It's a Wrap: Fanney Khan stars Anil Kapoor, Rajkummar Rao, Pihu Sand in conversation with Parul Sharma
  • Wednesday, August 15, 2018 Partition's real cost: Sonam Kalra revisits accounts of separation, loss in a spellbinding performance
  • Monday, August 13, 2018 Asian Games 2018: How Indian women's hockey team moved on from heartbreak at London World Cup

Also See